Why should one avoid payday loans?

[Min George]

One financial expert on YouTube has told people to avoid payday loans. But payday loans can be quite helpful to meet some needs. Why do people have to avoid payday loans? What negative impact does it have on finances?

 

[Suba]

One should avoid payday loans because they will be charged high interest, are a type of short-term loan or paid when payday comes but if not paid off immediately then debt collectors will terrorize and collect from the office, besides that it will also make you accustomed to living with debt or it will be easy to take on debt.